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BUSINESS & ECONOMYCOVERNEWSLETTER

Naira Adds 0.18% Against Dollar at Spot Fx Market

 

The Naira, on Wednesday, September 7, gained 0.18% to the Dollar to close at N314.35 compared to a 0.23% depreciation recorded on Tuesday when the dollar traded at N314.92 at the interbank or spot FX market.

The local currency had dropped 0.23% to the Dollar on Tuesday, September 6, to close at N314.92 compared to an appreciation of added 0.18% recorded on Monday when the naira closed N314.20 to one US dollar at the interbank or spot FX market.

Meanwhile, there was a slide in the performance of the naira at the parallel market on Wednesday, as traders sold N423 to one Dollar compared to N422 it was sold for Monday.

It strengthened to the Pounds Sterling and Euro selling at N542 and N464 respectively compared to previous day’s rate of N545 and N465 respectively.

At the Central Bank of Nigeria, CBN, the naira was exchanged for one US dollar at the rate of N305, and N342.7 was traded for one Euro.

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